For the past few years, London’s economy has seen a massive boost thanks to the amount of digital and tech businesses that have opened or moved to the city. This is due in no small part to the growing area of Tech City and Silicon Roundabout, which is where the majority of digital startups and even global companies are based in the Big Smoke.
A report put together by Jones Lang Lasalle (JLL) – an investment management company that specialises in real estate – entitled ‘Disruptive demand – Tech and Media in London’ looked at the amount of office space that was filled by tech businesses in the city between 2012 and 2015.
According to the information the company found, a new tech company was set up every hour during those three years.
The growth is localised in the main areas of Aldgate, Clerkenwell and Shoreditch, combining them into what has been referred to as a hotbed of activity. In fact, tech and media companies almost doubled the amount of leased floor-space in these boroughs.
It seems the main reason for the influx into this area is because like-minded people who are the faces behind the tech industry in London have an interest in working around similar companies with amenities that are suitable for the growth of their business.
Michael Davis, head of London Unlimited at JLL, said: “Fundamentally, this is the part of London where the lion’s share of undergraduate and postgraduate talent now resides. Every company is vying for the brightest minds”.
In terms of property itself, the main reason why so many young startups and bright digital minds are moving to this part of London is because there is a great mix of architecture in the area. There are lots of modern buildings that have been built in mind of the techie people who move into them, plus you can find older buildings with more reasonable rents that have an element of ‘cool’ that makes the whole of Silicon Roundabout desirable.
M by Montcalm Shoreditch London Tech City Hotel is one of the more modern buildings in the area of Silicon Roundabout that is set in amongst the bustling offices of startups and established businesses like Google.
The hotel is perfect for people who are travelling in London for business over a couple of days or even for those of you spending a week or more in this exciting city.
If you’re in town for a digital lecture or want to book somewhere for a conference then our flexible meeting and event spaces could be perfect for you. Not only can you hold meetings from two people up to 150 pax, we also offer catered packages for scheduled breaks during the day. Our chefs and event staff will work closely with you to ensure that you have the perfect day.
Of course, the area has so much more to offer than tech businesses but it is these digital companies that helped bring industry to this area in the first instance and so other types of commerce have followed.
Enjoy any amount of pubs, bars, cafes and restaurants to either start or finish your day and if you’re in this area of London, don’t forget to check out the different markets for a great selection of food and shopping bargains.
For more information on rooms and event spaces at M by Montcalm Shoreditch Tech City Hotel, contact us now.